Pivots
Last updated
Last updated
Crayons includes a proprietary pivotal recognition algorithm, no confirmations no hindsight, no historical time based levels.
It detects in real time providing actionable and reflectable levels for current and future price action. Alongside that, the pivot origination candle produces directional impulse for short term price movements.
Pivots stands for “turning point” its a price level representing support and resistance.
Their use is straight forward, they are important price levels that generates high interest from market participants, once it has acceptance above the level, it heads higher. If accepted below the level, price goes lower.
As time passes pivots grow with each candle. The example here shows the previous slides’ pivot growth and directional impulse.
They can end up extending for a long time until the pivot recognition algorithm detects a new pivot of the same color.
It's important to remember that support can turn into resistance after a level is invalidated and with time resistance can turn into support. Meaning a level’s bias depends on location relative to pivots.
